Indian stock markets opened higher on Monday, inching closer to their record levels last seen in September 2024. Strong domestic sentiment and supportive global cues lifted early trade.
The Nifty 50 opened at 25,948.20, up 38.15 points or 0.15 per cent. The BSE Sensex also began in the green at 84,724.14, gaining 161.36 points or 0.19 per cent.
Banking and market expert Ajay Bagga told ANI that markets are “finally at the cusp of all-time highs” after several failed attempts in recent weeks. “This week holds out the hope of reclaiming the September 2024 highs on the Nifty,” he said.
Bagga noted that the Bank Nifty, which hit an intraday record high last week, is expected to maintain its momentum. “Bank Nifty is likely to continue its upward trend once US data offers more clarity on the Federal Reserve’s actions, which remain globally significant,” he said.
Commenting on global developments, Bagga highlighted sharp volatility in crypto assets. “The risk-off meltdown in cryptocurrencies is gold-positive and Bitcoin-negative. All the gains of 2025 have been wiped out despite the pro-crypto stance of the Trump administration. A rebound can be expected as risk sentiment improves,” he added.
In the broader market, the NSE Nifty 100 rose 0.18 per cent, the Nifty Midcap 100 gained 0.43 per cent, and the Nifty Smallcap 100 was up 0.31 per cent, signalling strength across segments.
Among sectoral indices, all opened in the green except Nifty IT, which slipped 0.04 per cent. Nifty PSU Bank and FMCG were the top performers. Nifty Auto traded flat but positive with a gain of 0.07 per cent.
SEBI-registered analyst and Alphamojo Financial Services founder Sunil Gurjar said the Nifty 50’s recent performance shows strong bullish momentum. “Nifty 50 surged by 417 points, recovering losses after bouncing from the support level of 25,288. This indicates a solid retest,” he said.
He noted that the index is approaching a key resistance. “The index is near its resistance level of 26,250. A breakout above this level could push Nifty 50 to a new all-time high,” he added.
Markets this week are awaiting fresh US economic data. Hawkish remarks from Federal Reserve officials last week reduced the probability of a December rate cut to 45 per cent in futures markets. Concerns over AI-driven valuations also continue to weigh on investor sentiment. The ongoing 43-day US government shutdown has added uncertainty, with key economic data not being released.
US markets closed flat on Friday. In Asia, markets opened sharply lower on Monday following what analysts described as an “unexpectedly strident” Chinese warning to Japan, which sparked fresh geopolitical concerns. Gold recovered modestly in Asian trading after falling in the US session, but later gave up those gains.
(ANI)
